88% of the CEO
Pros – a lot of career and network progression
Cons – none but must work hard
Pros – - Good rotations across different teams within the bank, from industry coverage teams, investment banking coverage (SCB terms it as Strategic Client Coverage Group, or SCCG), or corporate finance
- Leaders and seniors who take the time to nurture and develop you as a finance professional
- Networks across the bank in various geographies. Opportunity to work alongside an international team
- Good amount of deal flow for the debt-driven products given SCB's advantage as a balance sheet bank
- Interaction with external stakeholders early on in your career. Given the opportunity to meet clients and partners in other banks, present the financial model, and learn not just about the financial aspects of a transaction, but also the legal side of things
- Flat, non-hierarchical structure within certain teams
- No hire and fire culture/ sink or swim culture
- Nice view from the office at MBFC Tower 1
Cons – - Compensation is not pegged to market, especially if you end up in SCB Corporate Finance, where the hours you put in are substantial and comparable to other investment banks.
- Employee Review for International Graduates is pegged to an average and determined by your graduate sponsor (mentor), who may not be your direct superior in your rotations and is less likely to grade you favourably
- You might not end up in the team of your choice within the bank, and might be allocated to a role within the corporate banking teams instead of a corporate finance team. Competition is extremely fierce for certain teams within the bank
Advice to Senior Management – Stay true to the values of the bank
Yes, I would recommend this company to a friend
Pros – Work life balance for most business groups
Pretty competitive salary
Good benefits and a huge focus on corporate social responsibility
Cons – Information system issues aplenty, very manual work required to work around the system limitations
Weak HR Team that is only visible during the recruitment process
Advice to Senior Management – Keep it up
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Pros – I work in the technology division and here are my thoughts in bullet point:
- Pay scale is pretty good. However, the range is also wide, so it boils down to how generous your boss is.
- Work-life balance does exist, but there are some individuals who slog like slaves.
- Most people enjoy the flexibility of working from home once in a while, as long as you deliver what is required.
- Lots of leave for permanent employees.
- No shortage of employee volunteering opportunities.
- If you work in the city office, it's very accessible, but you will spend a lot of time and money on food and parking.
- If you work in the changi office, there are more (affordable) lunch options compared to a couple of years ago, but it can be difficult getting to work if you miss the free company shuttle buses to Changi - unless you stay a couple of train stations away from Expo.
- Medical benefits is ok, but not great when compared to other banks.
- Group CEO is widely respected and revered.
Cons – - Most of the middle managers, and some senior managers, seldom come across as impressive when it comes to their management style or expertise.
- Too many people were hired just because they are friends with the hiring manager, and not because they are genuinely capable of what they do. If you want to shift to another role within the bank, you have to spend a lot of time and effort networking.
- This bank is horribly, terribly disorganised, and many things are done last minute. This compromises the quality of work.
- When it comes to new business opportunities or innovation in banking, they are always one step behind other banks.
- Managers of south asian descent tend to hire people of the same race. Other people have also said that they generally have difficulty adapting to the working styles of other races.
- There is a lot of shifting of tech & ops roles to South Asia for the sake of lowering costs. I personally think it's a recipe for disaster. Most of the time, the southern Asian counterparts are seriously lacking basic communication and listening skills. They are not efficient in delivering outcomes and many projects get delayed very badly. Project cost over-runs can get rather alarming. When they say "yes, it's done" or "yes, it will be done", it usually turns out to be the opposite. I don't believe it to be true for all south Asians, and there are exceptional cases within the bank (though very few), but such sentiments are echoed by many other non-south-Asians in the organisation.
- Quite a lot of redundancies were made with the recent merger of its wholesale and consumer banking business. Sometimes these retrenchments happen so fast, it's just bollocks!
- Since the merger, everything is in a state of confusion and semi-chaos because people are not sure where the company is heading, how they should navigate the organisation to get things done and how it impacts their promotion and pay. There has been little communicated to staff worldwide.
- From time to time, you hear about women sleeping up the corporate ladder. And they still get away with it.
- Didn't bother about the employee share options - doesn't seem attractive.
Advice to someone who is thinking of joining this organisation soon:
- Wait for the dust of the recent reorganisation to settle first. I suspect this may take about a year from now.
Advice to Senior Management – Focus on hiring the right people with the right skills, and not just base it on personal connections. So much more can be done to improve employee diversity of skills, gender, sexuality and race.
Pros – Great, inspiring leaders who care about what they do
Not as bureaucratic as competitiors
Company's Here For Good ethos is great
Good market footprint
Cons – The company has become too inwardly obsessed and cautious.
Advice to Senior Management – Cut out the BS and get back to basics!
Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company
Pros – It was a sales role so it was quite free and easy.
Cons – However, I think at times it may be more of relationship building between the manager and subordinate than actually achieving KPIs. So in a nutshell, it is important to please the boss.
Advice to Senior Management – Try to be fair for a start.
No, I would not recommend this company to a friend
Pros – SCB has some great people, pockets of opportunities to have autonomy and make a real difference in the organisation, salaries are good, people will sometimes take a risk on you and allow you to develop, cross functional working can be really productive, lack of hierarchical barriers to access people mean exposure to seniors can happen more easily
Cons – There is a fear culture around making mistakes so things get passed down the line to the more junior staff which creates huge stress and big mistakes, lack of visible accountability at the senior levels, big focus on operational cost issues so middle and junior management get put under huge pressure to deliver 200% with minimal resources, very political at the seniors
Advice to Senior Management – Visibly role model your values and be seen to take accountability for mistakes, people are very forgiving if you are authentic
Pros – Management team generally have their eyes "on the ball". Team culture is positive and enjoys high level of collaborative work. IT process is more matured than some other banks.
Cons – The compensation level should be higher in centers like Singapore or London. Senior management acknowledged their high staff attrition rate in Singapore probably due to this non-competitive factor.
Yes, I would recommend this company to a friend
Pros – the Bank encourages internal movement across border
Cons – Banks are old school and conservative in technology
Advice to Senior Management – invest more on technology
Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company
Pros – Open plan offices, easy communication regardless of rank.
Nice pantry with coffee.
Colleagues from many countries
Cons – Fast paced
Occasional long hours during peak periods.
Depending on your work, some are swamped with responsibilities.
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No thanks –